Safeguard Your Clients And Business By Monitoring Your EFIN
In 2020, many businesses transitioned from solely brick-and-mortar businesses to hybrid companies. Many employees worked from home due to COVID restrictions and health concerns. But that shift meant more opportunities for hackers. Cyber attacks increased by 358%...
What Challenges do Tax Software Providers Face with the Evolving Needs of Tax Professionals?
Providing tax support to individuals and businesses is anything but simple in today’s fast-moving digital world - your software has to factor in unique business models, a wide range of investments and assets, and a legal and procedural landscape that requires regular...
7 Frequently Asked Questions About EFINs
When filing taxes, you would typically use your social security number to file your taxes as an individual. However, when preparing taxes for other people or business entities, you need a specific number to identify yourself as a tax preparer instead of a taxpayer....
Adding Dependents to Your Tax Return: Why and How to File an Amended Return
Filing an amended tax return can be necessary for taxpayers who need to make corrections or additions to their original tax return. Luckily, we will specifically focus on the importance of adding dependents to your tax return and the process of filing an amended...
What Is the IRS 1040-X Form? All You Need To Know
Understanding the IRS 1040-X form is essential for taxpayers who need to make changes or corrections to their previously filed tax returns. This form, also known as the amended U.S. Individual Income Tax Return, plays a crucial role in rectifying errors, claiming...
A Beginner’s Guide to Filing Taxes: Tips and Tricks for First-Time Filers
Filing taxes for the first time can seem like a daunting task. However, anyone can successfully navigate the tax filing process with the right knowledge and guidance. In this beginner's guide, we will provide valuable tips and tricks to help you file your taxes...
Filing an Amended Tax Return: Adding Deductions and Credits for a Better Refund
Filing an amended tax return can be a valuable opportunity to maximize your tax refund by adding overlooked deductions and credits. In this article, we will explore the importance of correctly filing an amended tax return to avoid penalties and future issues with the...
Tax Preparation Resources for Small Business
Tax preparation can be a complex and time-consuming process, especially for small businesses. Understanding the intricacies of tax regulations and properly managing financial records are crucial for maintaining compliance and optimizing financial health. In this...
How Much Does Tax Software Cost? A Detailed Cost-Benefit Analysis for Businesses
Managing finances and ensuring compliance with tax regulations are vital aspects of running a successful business. As tax-filing becomes increasingly complex, businesses face the challenge of efficiently managing their taxes. This article explores the costs...
How to Get a PTIN: Requirements for Tax Return Preparers
As a tax preparer, obtaining a Preparer Tax Identification Number (PTIN) is a crucial step in establishing your credibility and compliance with the Internal Revenue Service (IRS). In this article, we will delve into the details of what a PTIN is, why it is necessary,...
Recent Posts
Will Software Replace Professional Tax Preparers?
There are several options for individuals and families looking to DIY their taxes. The IRS has a Free File program with the Free File Alliance, a coalition of tax preparation software companies. The "IRS Free File" program provides free tax preparation and filing for...
Make 2024 The Year You Scale Up Your Tax Preparation Business
Growth is one of the primary business goals shared across markets. You’ve worked hard to set up your company, build a brand, and service clients. Let all that hard work pay off in a more significant market share by scaling up with these strategies. Prepare Your...
How Can I Determine if my Current Tax Software Suits my Tax Services Business?
Proper tax software is integral to running a successful tax services business. Without the right tools, you may fall short of meeting the most recent tax regulations and offering fair tax services to your clients. Keep reading for tips on determining if your tax...
Digital Signatures: The Ultimate Timesaver For Tax Preparers
Until recently, the IRS required wet-ink signatures on hard-copy documents for tax filing. They’ve relaxed their stance on hard copies in recent years, partly because they’re always looking for ways to improve their efficiency and partly because they need to keep up...
5 New Year Resolutions For Tax Professionals
It’s 2024. It’s a time for family, friends, fireworks, and dazzling parties. The new year and the time-honored tradition of resolutions are opportunities to learn from old mistakes and let go, moving on with greater insight. Here are five resolutions you might include...